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Daily Technical Analysis

EUR/USD

Current level – 1.1598

After the bulls’ unsuccessful attempt at violating the resistance zone of 1.1618, the euro lost some ground against the dollar and, at the time of writing, the pair is trading 20 or so pips below the mentioned resistance. If the bearish attack continues, a test of the support of 1.1575 would be the most likely scenario and, if breached, the decline should deepen towards the local lows at around 1.1535. In the positive direction, a breach of the mentioned zone of 1.1618 could encourage the bulls to test the resistance between the levels of 1.1663 and 1.1687.

Resistance Support
intraday intraweek intraday intraweek
1.1618 1.1687 1.1575 1.1410
1.1663 1.1750 1.1535 1.1280

USD/JPY

Current level – 114.16

The dollar regained some of its recent losses against the yen and, during the early hours of today`s trading, the pair is holding positions above the zone of 114.10, which is now acting as a support. At the time of writing the analysis, the expectations are for a test of the resistance of 114.42 and, if successful, this should lead to a continuation of the rally and even more gains for the greenback against the yen. If the bears re-enter the market, the corrective move should remain limited to the level of 113.21.

Resistance Support
intraday intraweek intraday intraweek
114.42 116.50 113.70 111.96
116.50 118.00 113.20 111.50

GBP/USD

Current level – 1.3769

The pound has halted its uptrend and a complex retracement is currently developing on the market. The first support for the bulls is the area of around 1.3760, and the first resistance is 1.3830. If it takes longer for the pullback to develop, it is expected to remain limited above the local support of 1.3720. Current sentiment remains positive, and should 1.3830 be breached, the next target for the buyers could be the area at around 1.3900.

Resistance Support
intraday intraweek intraday intraweek
1.3830 1.3900 1.3760 1.3640
1.3900 1.4000 1.3715 1.3570

DeltaStock Inc.
DeltaStock Inc.http://www.deltastock.com/
These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Delta Stock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Delta Stock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Delta Stock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.

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